Oin Finance – DeFi projects appear a lot in recent emerging blockchains such as Avalanche, Polygon, Ontology… So what is Oin Finance? Should I invest in OIN tokens? Together GTA team Find out more about this project through the article below.
OIN Finance Overview
Oin Finance is a layer 2 cross-chain platform and an exchange and issuer of stable assets for blockchain projects through a multi-faceted infrastructure. The purpose of OIN is to provide DeFi functionality for all crypto projects large and small. Currently, OIN’s main active products are OINDAO and OIN SWAP.
OINDAO allows participating projects to create their own collateral pool to mint private branded stablecoins. Users can collateralize tokens OIN, FRONT, STPT, OM to mint stablecoins (mint stable coins used in the system).
OIN SWAP is a decentralized exchange where users can swap popular stablecoins after staking their assets on OINDAO.
Highlights of OIN
Other than Compound nice MakerDao is that MakerDao only allows mainstream assets to be used as collateral for issuing DAI. Meanwhile, OINDAO allows projects to issue synthetic assets branded with the project’s own brand and collateralized by the project’s own token.
OIN is the first DeFi platform to offer liquidity mining and lending on Ontology, followed by other leading platforms via cross-chain functionality. The platform will build bridge technology to seamlessly integrate Ethereum into OIN’s ecosystem, and gradually expand to other popular ecosystems such as Polkadot, Avalanche and Near, the goal of OIN is to be a one-stop shop that can issue, trade, and deploy cross-chain stablecoins.
The use cases of OIN are swapping for other popular stablecoins, adding leverage, hedging, lending and a lot of ecosystem-specific utilities.
Read more about OIN Finance’s operating model
Team – The founding team
The project is led by a team with a strong tech team with experience in blockchain. Although this is a DeFi project, the team is too tech-oriented, there is no CFO, the team’s background in Finance is not strong.
Investors & Partners – Investors & Partners
The names behind supporting the image and development of the project include: Alamenda Research, FBG Capital, Block Water Management, FTX Exchange, CMS Holdings, Moonwhale Capital, Ruby Family Office, Waterdrip Capital, Signum Capital, GBIC,…
Can see backer list of OIN Finance Not only many but also well-known names in the cryptocurrency market partly ensure the quality of the project.
The project is audited by Beosin in September 2020.
Roadmap – Development Roadmap
Currently, the OIN Finance team has completed the 2020 roadmap. In 2021, there are 2 important milestones that are likely to accelerate the growth of OIN in Q3 and Q4, which is the launch of OIN DAO and OIN SWAP versions on Polkadot. Q1 2022, OIN Finance will launch OIN DAO version 2.
Basic information about OIN Token
Token Name: OIN Token
Blockchain: Ethereum (Will swap over mainnet when Mainnet)
Standard Tokens: ERC-20
Token types: Governance Token
Total Supply: 100,000,000 $OIN
Circulating Supply: 18,002,112 $OIN
Token Allocation – Token Allocation
- Liquidity Mining & Staking: 50%
- Fundraising, Hiring & Project Development: 15%
- Ecosystem Expansion & Exchange Listing: 5%
Token Release Schedule – Token Release Schedule
- Seed Sale: 10% unlock after listing, then 10% unlock every 3 months.
- Private Sale: 25% unlock after listing, then unlock 25% every 3 months.
- Public Sale: Fully Unlocked.
- Team & Advisors: Lock for 6 months, then unlock 20% every 6 months.
Token Use Cases
As a Governance Token based on Ethereum’s ERC-20 standard, the OIN token is used to:
- Community Vote to manage stablecoin issuance projects on the OINDAO platform
- Vote on mining reward distribution ratio of $OIN in stablecoin pools after more stablecoins were listed on the OINDAO platform.
Two thirds of the fee obtained from projects issuing stablecoins through the OINDAO platform used to redeem $OIN on the market and burn often. The community will monitor through voting to ensure that $OIN is a deflationary token. One third of the fee this is okay transferred to OIN team to ensure the sustainable development of the project.
Current OIN Rate
Buy – Sell OIN tokens where?
You can participate in transactions, buy and sell OINs on decentralized exchanges (DEX) such as: Uniswap, PancakeSwap… and centralized exchanges (CEX) such as: Hoo.com, Gate.io, AscendEX…
OIN Finance is oriented to develop as a stable issuance platform for altcoins completely different from Maker Dao platform (only for mortgaging ETH to mint DAI).
The project is invested by famous blockchain investment funds such as Alamenda Research, FBG Capital, Block Water Management, CMS Holdings, Moonwhale Capital,… and supported by FTX – 1 big plus point for the project.
This is a potential project, can consider investing in part following the DeFi trend of the market, especially after the success of MakerDao.
Here is all the information GTA Research team studied about Oin Finance and is not investment advice. Hope this article will help you get the necessary information and give your personal opinion about the project.